In today’s briefing:
- Ultrajaya Milk Industry & Trading (ULTJ IJ) – Dairy and Tea Driven Momentum Continues
Ultrajaya Milk Industry & Trading (ULTJ IJ) – Dairy and Tea Driven Momentum Continues
- Ultrajaya Milk Industry & Trading saw continued growth momentum in 1Q2022 both for its core UHT milk business (No.1) and its carton tea business as mobility restrictions were lifted.
- The company also sources more of its milk requirements locally, which means less exposure to imported milk power but prices there have started to come off.
- Management remains optimistic that the company can achieve double-digit growth this year plus it has increased ASPs by +3% in April. Valuations at a discount to staple peers.
Before it’s here, it’s on Smartkarma
